Todays Weekly Newsletter

Wednesday, February 9, 2011 Current Rates: Terms The Bank Our Rates 1 Year 3.35% 2.45% 2 Years 3.60% 3.10% 3 Years 4.15% 3.39% 4 Years 4.94% 3.65% 5 Years 5.19% 3.65% 7 Years 6.35% 4.50% 10 Years 6.50% 5.00% VIRM 3.00% 2.20% The prime rate is 3.00% Shawn Mooney (403) 945-8769 mortgages@shawnmooney.com Contact Info: AIRDRIE, Alberta (403) 945-8769

Current News: ·         2011 housing drop seen less severe Feb 08, 2011 — The Canadian Real Estate Association has raised its sales forecast for the rest of the year, calling for a smaller decline than it originally expected as low interest keep buyers in the market. ·         Gold on the move, interest rates too Feb 08, 2011 — U.S. equity index futures are mixed this morning. U.S. equity index futures are unchanged in pre-opening trade. Index futures are responding to news that China has taken an additional measure to slow its economic growth. The Bank of China increased its overnight lendin g rate for major banks by another 0.25%. Interest rates also are rising in Canada. Yesterday, Toronto Dominion Bank and Canadian Imperial Bank of Commerce raised their five year mortgage rate by 0.25%. Other Canadian financial institutions are expected to follow. ·         Worst mistakes first-time home buyers make Feb 07, 2011 — A house is one of the biggest investments most Canadians ever make, so it's important to plan ahead, to think about what you need in a home and what you can afford. ·         Building permits' value up in December Feb 07, 2011 — OTTAWA - The value of building permits rose in December for the first time in three months, Statistics Canada said Monday, but at a slightly slower pace than expected.